🔴 Bank of England 'rubbished' by the Government, says former deputy
Bean says he feels the criticism of the Bank is largely misplaced, “though it was perhaps a little slow to wake up to underlying inflationary pressures last year.”best he can under the circumstances
. “He may not have Carney’s charisma but he does understand financial markets. The Government is arguing that higher mortgage rates are primarily the Bank’s fault but the original sin lies with the Government’s fiscal package. The Bank is left picking up the pieces.” While it isn’t the first time there has been tension between the Treasury and/or Number 10 and the Bank of England – Gordon Brown and Mervyn King had an acrimonious relationship, as did King and George Osborne at times – it will add to the hours Andrew Bailey is working at the moment.
“When I was at the Bank through the financial crash it was 24/7 and holidays were cut short; it’s grueling. It’s exciting to be at the centre, it’s just that it gets exhausting as time goes on. Andrew Bailey is a level-headed fellow – he has supportive colleagues and I wouldn’t have thought that he’s breaking down in tears at night. He’ll just be getting on with the job. He is someone who is an emollient figure.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England buys just £22mn of bonds in latest purchasing operation\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
Bank of England had a heavy week. Now for analytics in cloudData more essential than ever, says analytics chief as Liz Truss U-turns on tax, and world+dog remembers Bank's there to manage risk
Read more »
MP praises good work of Market Drayton debt charity and food bankNorth Shropshire MP Helen Morgan has praised debt centre staff and volunteers in Market Drayton for their dedication in helping people in poverty amid the cost-of-living crisis.
Read more »
Sports fans fuming as BT Sport takes FIVE times normal payments from bank accountsSports fans using the BT Sport app were up in arms as their £25 monthly renewals appeared multiple time in their bank accounts on Monday.
Read more »
Glasgow Chinese restaurant gives 'non-refundable' Christmas deposit to food bank sparking debateWong's in Maryhill has caused a stir on social media after a customer cancelled their Christmas reservation, prompting the restaurant to spend their £50 deposit on much-needed items for a local food bank.
Read more »
Man arrested for fraud after 'string of bank card purchases' in SpaldingHe has been released under investigation
Read more »